The Accounts Receivable balance for Knight Consulting is $1,400,000 as of March 31, 2021. Before calculating and recording the month's bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of $17,500. The March 2021 net sales were $19,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a $203,000 estimate for the Allowance for Doubtful Accounts as of March 31, 2021. PART A: PERCENT OF SALES METHOD Assume that Knight Consulting uses the percent of sales method to estimate future uncollectible accounts. What adjusting entry does Knight make to record March 2021 Bad Debt Expense? What is Accounts Receivable, net on Knight's March 31, 2021 Balance Sheet? $ What is Bad Debt Expense on Knight's March 2021 Income Statement? $_ PART B: ANALYSIS OF RECEIVABLES METHOD Assume that Knight Consulting instead uses the analysis of receivables method to estimate future uncollectible accounts. . What adjusting entry does Knight make to record March 2021 Bad Debt Expense? What is Accounts Receivable, net on Knight's March 31, 2021 Balance Sheet? $ . What is Bad Debt Expense on Knight's March 2021 Income Statement? $_